NYSERDA Chooses Faraday AI Platform To Reduce Customer Acquisition Costs
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Faraday, Inc. has been chosen to provide its multichannel data-driven customer targeting tools and complementary consulting services to contractors participating in New York State Energy Research and Development Authority (NYSERDA) programs base on their unique artificial intelligence (AI) platform and experience in clean energy.
The platform enables contractors to analyze key geographies and households likely to implement energy efficiency improvements. The targeting tool will first be used to support NYSERDA's recently announced clean heating and cooling community campaigns. Eventually, Faraday plans to make it available to all installers, distributors, and manufacturers.
Faraday has a long-standing history helping clean energy companies reduce customer acquisition costs (CAC) by implementing predictive targeting strategies powered by big data and artificial intelligence. In an assessment conducted by the National Renewable Energy Laboratory (NREL), Faraday's AI capabilities resulted in a CAC reduction of 11.5% for residential solar installations.
"Faraday is proud of our work helping to drive the adoption of clean energy," said Robbie Adler, Co-founder & Chief Strategy Officer of Faraday. "As we've shown across industries, we believe AI and predictive analytics are important for any innovative organization and know that our partnership with NYSERDA will help New York contractors of all sizes improve their targeting strategies and reduce overall CAC."
Donovan Gordon, Director, Clean Heating and Cooling for NYSERDA said, "We are pleased that Faraday will help our contractors identify households that could potentially benefit from clean heating and cooling technologies, which will help reduce costs, greenhouse gas emissions and move New York another step closer to achieving its nation-leading clean energy goals."